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What’s Inside: Congress Passes Drug Pricing Legislation; Latest in Cosmetics and Medical Aesthetics; Bluebird bio Wins FDA Approval for Gene Therapy Drug; and more.
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We’re championing the progress made by California’s life science community and want to hear about your company’s latest scientific breakthrough, investment milestone, or commitment to creating positive change for our industry. We welcome all members to submit your story here for possible inclusion in an upcoming issue. |
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What’s Happening at Biocom California
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Make Your Voice Heard!
Our members can effectively connect with policymakers at all levels of government through our redesigned Action Center. View existing alerts to provide your input and sign up to receive notifications about future alerts. Currently, our most pressing call to action is to urge Congress to reauthorize the SBIR/STTR programs which are expiring on September 30 and fund many small companies’ federal grants in California. The Action Center is also helpful in finding representatives in Congress or legislation that impacts the life sciences.
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The HR Conference for Life Sciences
Biocom California’s HR Conference for Life Sciences will return this fall, providing HR professionals an opportunity to hear from executives on best practices and important trends specifically relevant to the life science industry. Attendees will learn effective methods for building a strong company culture, offering competitive compensation, and attracting talent in a fierce market. This year, the conference will be held in person on September 22 in San Mateo and October 12 in San
Diego.
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The Latest in Cosmetics and Medical Aesthetics
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The cosmetics and beauty industry is constantly innovating, whether by advancing product development or adopting AI technology in order to keep up with trends, what customers want, and competition from new online brands. Although skincare and makeup manufacturers saw big shifts in sales in 2020—consumers’ makeup usage fell by 30 percent and lipstick usage decreased as
much as 40 percent during the height of the pandemic—the industry is bouncing back and the value of the beauty and personal care market is set to reach $784.6B by 2025. The growing medical aesthetics sector is currently valued at $99.1B and is expected to increase by nearly 15 percent in 2030.
Here’s a roundup of some of our member companies who are contributing to innovating in the cosmetics and medical aesthetic space. |
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Clean Lines
The concept of “clean beauty” in skincare is definitely in, and a recent survey showed consumers are willing to pay 35 to 40 percent more for a sustainable version of their go-to personal care product. Novvi develops plant-based petroleum alternatives for a variety of industries from electric vehicles to personal care, and its Luxtra line of emollients has applications in skin, sun and body products. The Bay Area company is also working on plant-derived waxes and alkanes.
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Chin Up
Allergan Aesthetics, which is now part of Abbvie, is a leader in the medical aesthetics industry and best known for Botox. The FDA recently approved its newest injectable, Juvederm Volux VC, a hyaluronic acid filler which can improve definition in the jawline.
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Plant-Based
Amryis, a synthetic biology company that derives squalene from fermented sugarcane rather than controversial methods using shark liver oil, and is behind the skincare brands Biossance and Pipette, announced it started fermentation at its new precision plant in Brazil. The company says it’s the world’s most advanced fermentation plant, and will produce natural vanillin, sugarcane-based Reb M, squalene, and patchouli along with other molecules.
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No Animals Needed
Also based in the Bay Area, Geltor first garnered attention for its development of a lab-grown animal-free collagen for food and beverages, and its innovations in biodesigned proteins extends to the beauty world. The company was recently featured in Allure for HumaColl21, a vegan version
of human collagen that is available for use in a face serum.
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Global Reach
Rohto Pharmaceutical, one of our members based in Osaka, Japan, is a multinational company that has a large portfolio of brands and presence in Asia. Did you use Oxy acne treatments when you were a teen? The company acquired the popular skincare line from GSK years back, and today it is helping develop a database of skin irritation tests without the use of animal testing.
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Industry Intelligence & Member Moments
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- ALX Oncology and Quantum Leap have selected evorpacept as a new investigational treatment in combination with ENHERTU for breast cancer and will begin a phase 1 trial to test safety and efficacy.
- Amgen acquired ChemoCentryx for $4B, gaining rights to avacopan, a first-in-class treatment for ANCA-associated vasculitis.
- Arcutis made roflumilast cream for treatment of plaque psoriasis available to individuals 12 and older, the company’s first commercial product.
- Bluebird bio received FDA approval for its personalized gene therapy for people dealing with beta thalassemia, an inherited blood condition that requires regular blood transfusions for life.
- Catalent acquired Metrics Contracts Services for $475M, boosting its capabilities in integrated oral solid formulation development, manufacturing, and packaging.
- Cardea Bio continues to see exponential demand for its graphene biosensor and aims to produce more than one million sensors in 2023.
- CRISPR QC has been accepted into EvoNexus’s San Diego incubator to accelerate the full potential of CRISPR.
- Gilead announced an agreement with Everest Medicines to obtain all development and commercialization rights of trodelvy in greater China, South Korea, and several other Asian markets.
- GSK was awarded a $170M contract with UNICEF for the first-ever supply of a malaria vaccine and has agreed to distribute 18 million doses over the next three years.
- LAEDC’s president and CEO Bill Allen has retired after serving for 17 years and Stephen Cheung will take his place.
- Merck will invest $150M in Orna Therapeutics to advance its engineered circular RNA vaccines and therapeutics against infectious diseases and cancers.
- Palisade Bio, a company focused on advancing therapies for acute and chronic gastrointestinal complications, has closed a $13.8M underwritten public offering.
- SBP scientists have been awarded a $10.6M NIH grant to join UC San Diego and others in an initiative that aims to map out how aging cells accumulate in tissues.
- Sanofi signed onto a $1.2B research collaboration to use Atomwise’s AtomNet platform, reinforcing the former’s focus on leveraging AI-powered drug discovery.
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Congress Passes Drug Pricing Legislation
On August 12, the U.S. House passed 220-207, the Inflation Reduction Act, which contains drug pricing legislation allowing Medicare to set pricing on prescription drugs for the first time in U.S. history. The Senate passed the bill on August 7 by a 51-50 vote. Price controls have been proven to
destabilize innovation ecosystems by driving capital investments away, chilling research and development, and eliminating jobs. Ultimately, they reduce the number of medicines being developed and reaching patients. In response to the legislation, Biocom California president and CEO, Joe Panetta, released this statement.
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California Governor Announces Plan to Boost Water Supply
Last week, Gov. Gavin Newsom announced an $8B strategy to boost the state’s water supply that focuses on four pillars: building additional storage, increasing recycling and reuse of waste water, increasing conservation and building more desalination capacity. The state is projected to lose roughly 10 percent of its water supply in the next decade due to hotter and drier weather. The plan received widespread support from water users and business groups while facing criticism from
environmentalists.
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State Launches First-Ever Housing Policy Review in San Francisco
The Department of Housing and Community Development announced on August 9 that it will conduct a review of housing policy in San Francisco, which according to self-reported data has the longest timelines in the state for advancing housing projects to construction. The process is expected to take at least nine months.
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Pasadena HazMat Rule Changes Receives Council’s Approval
Pasadena City Council gave final approval on August 8 to updated hazardous materials rules that will conform with state policy. These policy changes were initiated in the city by Biocom California and our members there. City staff now has 60 days to return to council with a proposed update to the hazardous materials ordinance.
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Biocom California
For over 27 years, Biocom California has helped move the life science industry forward with transformative resources that enable companies to make meaningful connections. With a membership base of over 1,600 companies, we connect our members to each other so they can collaborate and work stronger and smarter together. We connect organizations to capital investment and purchasing solutions so they can grow faster and work more efficiently. We’re their link to advocacy that fights for innovation and we provide an environment where their business and talent can thrive. Biocom California is how the life science industry gets connected.
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